Marsh makes two new appointments to board

Marsh & McLennan has announced two new appointments, one of whom is a senior IBM executive, to its board of directors.

Steven A. Mills and Lloyd M. Yates will join the Marsh and Guy Carpenter parent company’s board of directors with effect from May 18, 2011.

Mills, 59, is the Senior Vice President and Group Executive, Software & Systems, of IBM. Mills joined IBM in 1973 and has been in his current role since last year. He is responsible for directing IBM's $40 billion product business, overseeing 100,000 employees spanning development, manufacturing, sales, marketing and support professions. Yates, 50, is the President and Chief Executive Officer for Progress Energy Carolinas, a subsidiary of Progress Energy, Inc.

68-year old Leslie M. (“Bud”) Baker Jr, who joined the board of Marsh & McLennan in 2006 and has served as chair of the finance committee since 2007, is stepping down after deciding to retire.

Marsh & McLennan chairman Stephen R. Hardis said: “We are delighted to welcome Steve and Lloyd to the Board. The Company stands to benefit greatly from their extensive strategic and operational experience, as well as the perspectives they bring from the technology and energy sectors. We look forward to their active contribution to the work of the Board. We also want to express our gratitude to Bud for his dedicated service to Marsh & McLennan Companies over the past five years. We have greatly benefitted from Bud’s skillful stewardship of the Finance Committee and many other contributions to the Board.”